NetEase (NASDAQ:NTES) Stock Rating Lowered by ValuEngine

ValuEngine downgraded shares of NetEase (NASDAQ:NTES) from a hold rating to a sell rating in a research note issued to investors on Thursday, ValuEngine reports.

Several other equities research analysts have also issued reports on NTES. Nomura reissued a buy rating on shares of NetEase in a report on Thursday, June 4th. Zacks Investment Research lowered shares of NetEase from a buy rating to a hold rating in a report on Wednesday, July 1st. New Street Research raised shares of NetEase from a neutral rating to a buy rating and set a $450.00 price target on the stock in a report on Thursday, May 21st. Barclays reissued an overweight rating and issued a $450.00 price target (up previously from $390.00) on shares of NetEase in a report on Friday, May 22nd. Finally, Benchmark boosted their price target on shares of NetEase from $380.00 to $435.00 and gave the company a buy rating in a report on Wednesday, May 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $401.66.

Shares of NTES stock opened at $430.91 on Thursday. NetEase has a 1 year low of $209.01 and a 1 year high of $441.87. The firm’s fifty day simple moving average is $404.73 and its 200 day simple moving average is $348.54. The firm has a market capitalization of $55.14 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 0.64 and a beta of 0.74.

NetEase (NASDAQ:NTES) last announced its earnings results on Tuesday, May 19th. The technology company reported $32.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.51 by $28.66. NetEase had a net margin of 33.53% and a return on equity of 37.00%. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.31 billion. As a group, equities analysts anticipate that NetEase will post 15.77 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Friday, June 12th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, June 11th. This is an increase from NetEase’s previous quarterly dividend of $1.02. NetEase’s payout ratio is currently 31.56%.

Several large investors have recently modified their holdings of the company. State Street Corp boosted its stake in shares of NetEase by 6.0% in the 1st quarter. State Street Corp now owns 1,674,126 shares of the technology company’s stock valued at $537,327,000 after purchasing an additional 94,542 shares in the last quarter. AXA lifted its position in NetEase by 83.2% during the 1st quarter. AXA now owns 16,399 shares of the technology company’s stock worth $5,264,000 after buying an additional 7,446 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in NetEase by 1.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 15,404 shares of the technology company’s stock worth $4,944,000 after buying an additional 200 shares in the last quarter. FDx Advisors Inc. acquired a new position in NetEase during the 1st quarter worth about $70,000. Finally, APG Asset Management N.V. lifted its position in NetEase by 4.3% during the 1st quarter. APG Asset Management N.V. now owns 135,300 shares of the technology company’s stock worth $43,426,000 after buying an additional 5,600 shares in the last quarter. Institutional investors own 46.94% of the company’s stock.

About NetEase

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.

Read More: How does inflation affect different investments?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for NetEase (NASDAQ:NTES)

Receive News & Ratings for NetEase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase and related companies with MarketBeat.com's FREE daily email newsletter.